BidaskClub upgraded shares of Rambus, Inc. (NASDAQ:RMBS) from a sell rating to a hold rating in a research note released on Friday morning.
A number of other brokerages have also recently commented on RMBS. Jefferies Group LLC reiterated a hold rating and issued a $13.50 target price on shares of Rambus in a research report on Tuesday, April 25th. TheStreet upgraded shares of Rambus from a c rating to a b- rating in a research report on Monday, April 24th. Finally, Zacks Investment Research cut shares of Rambus from a hold rating to a sell rating in a research report on Saturday, April 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $15.00.
Shares of Rambus (NASDAQ RMBS) traded down 1.10% on Friday, hitting $12.63. 1,205,881 shares of the stock traded hands. The stock has a 50-day moving average price of $12.00 and a 200 day moving average price of $12.86. The firm has a market cap of $1.41 billion, a P/E ratio of 180.43 and a beta of 0.87. Rambus has a 52 week low of $11.30 and a 52 week high of $14.50.
Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 24th. The semiconductor company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $97.40 million for the quarter, compared to analysts’ expectations of $95.52 million. Rambus had a net margin of 2.20% and a return on equity of 9.70%. The firm’s revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. Equities research analysts predict that Rambus will post $0.62 EPS for the current fiscal year.
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In other Rambus news, SVP Laura Stark sold 3,644 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $12.06, for a total value of $43,946.64. Following the transaction, the senior vice president now owns 209,176 shares in the company, valued at $2,522,662.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 12,830 shares of company stock worth $160,008 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Rambus during the fourth quarter worth about $1,990,000. Comerica Bank raised its stake in shares of Rambus by 5.9% in the fourth quarter. Comerica Bank now owns 117,402 shares of the semiconductor company’s stock worth $1,637,000 after buying an additional 6,586 shares during the last quarter. State Street Corp raised its stake in shares of Rambus by 10.5% in the fourth quarter. State Street Corp now owns 2,731,123 shares of the semiconductor company’s stock worth $37,610,000 after buying an additional 259,285 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Rambus by 12.2% in the fourth quarter. Guggenheim Capital LLC now owns 123,871 shares of the semiconductor company’s stock worth $1,705,000 after buying an additional 13,431 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Rambus by 4.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 58,820 shares of the semiconductor company’s stock worth $810,000 after buying an additional 2,560 shares during the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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